Bone Conduction Hearing Aids Market Size

Bone Conduction Hearing Aids Market Analysis

The bone conduction hearing aids market is poised to register a CAGR of 12% over the forecast period.

• COVID-19 impacted the growth of the market. The pandemic led to the shutdown of hospitals and clinics to avoid the spread of the coronavirus among the population. Also, during the pandemic, the American Academy of Audiology (AAA) recommended audiologists temporarily closed their practices, except for essential care and/or services that could be conducted via telecare or safe physical distancing. This impacted the market growth. However, with restrictions released and services resumed, the studied market was anticipated to grow over the forecast period.
• Factors such as the technological advancements in bone conduction coupled with the growing incidence of hearing loss in geriatrics, increasing healthcare spending, and the high demand for bone conduction hearing aids are expected to boost the market growth over the forecast period.
• The burden of hearing impairment in the geriatric population is relatively high, which is the key factor driving the market growth. For instance, according to the data published by World Health Organization (WHO), in April 2021, almost 25% of people over the age of 60 have debilitating hearing loss, which is more common in the elderly population. In addition, as per the same source, about 2.5 billion people are projected to have some degree of hearing loss, and at least 700 million are expected to require hearing rehabilitation by 2050 globally.
• Also, as per 2022 statistics published by the United Nations World Population Prospects, it has been observed that the percentage of people in the world aged 65 or older is expected to increase from 10% in 2022 to 16% in 2050. Thus, the expected increase in the elderly population further raises the risk of hearing impairment, which in turn is anticipated to fuel the market growth.
• The growing technological advancements in bone conduction hearing aids are expected to increase their adoption among the population who are either suffering from hearing loss or are deaf. For instance, according to an article published in the Current Otorhinolaryngology Reports in November 2022, the percutaneous osseointegrated devices offered the finest sound conduction and hearing fidelity. Also, the transcutaneous devices limit skin and wound complications, optimize bone conduction efficiency, and reduce the incidence of skin complications. Thus, the advantages offered by the advanced hearing aids are expected to increase its adoption, hence bolstering the market growth.
• Furthermore, rising product launches and approvals also contribute to the market growth. For instance, in March 2021, Cochlear Limited received United States FDA approval for the new Cochlear Baha 6 Max bone conduction sound processor, designed to improve hearing outcomes for people with SSD (single-sided deafness), conductive or mixed hearing loss.
• Therefore, owing to the aforementioned factors, the studied market is anticipated to grow over the forecast period. However, the disadvantages associated with hearing aids, such as pain and discomfort, as well as the high cost of bone-conduction hearing aids, are likely to hinder the growth of the bone-conduction hearing aids market over the forecast period.